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Bitcoin once again failed to hold near the $124,000 level, after which it quickly pulled back downward, returning to where it had started the day. Ethereum also came under pressure.
Yesterday, it was announced that Luxembourg became the first EU country to invest 1% of its sovereign wealth fund in a Bitcoin ETF. This step will undoubtedly go down in history as a precedent signaling a new era in how state financial institutions perceive cryptocurrency. Once viewed as a high-risk asset, Bitcoin and its counterparts are now gradually gaining the trust of those managing public finances.
Luxembourg's decision is not just a matter of portfolio diversification—it is a bold experiment that may pave the way for other countries. The small but proud Grand Duchy has always been progressive in financial matters, and this time is no exception. A 1% allocation may seem small, but it carries enormous symbolic weight.
Now all attention is focused on what happens next. Will other EU countries see this as a positive signal and follow Luxembourg's lead? Will isolated cases turn into a trend? The answers to these questions will shape the future of cryptocurrency in Europe and its role in the global financial system.
In any case, Luxembourg has already written its name into the history of the crypto industry. This step is further evidence that Bitcoin is gradually entering the mainstream and is no longer just for crypto enthusiasts.
Regarding intraday strategy in the cryptocurrency market, I will continue to react to any major dips in Bitcoin and Ethereum, counting on the continuation of a medium-term bull market, which remains intact.
For short-term trading, the strategy and conditions are described below.
Scenario 1: I will buy Bitcoin today upon reaching the entry point near $122,000 with a target of rising to $123,100. At around $123,100, I will exit long positions and sell immediately on the pullback. Before buying on a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario 2: Bitcoin can be bought from the lower boundary at $121,200 in the absence of a market reaction to its breakout, in anticipation of a move back toward $122,000 and $123,100.
Scenario 1: I will sell Bitcoin today upon reaching the entry point near $121,200 with a target of falling to $120,400. At around $120,400, I will exit short positions and buy immediately on the rebound. Before selling on a breakout, make sure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.
Scenario 2: Bitcoin can be sold from the upper boundary at $122,000 if there is no market reaction to its breakout, anticipating a move down toward $121,200 and $120,400.
Scenario 1: I will buy Ethereum today upon reaching the entry point near $4383 with a target of rising to $4472. Around $4472, I will exit long positions and sell immediately on the pullback. Before buying on a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario 2: Ethereum can be bought from the lower boundary at $4326 in the absence of a market reaction to its breakout, in anticipation of a move back toward $4383 and $4472.
Scenario 1: I will sell Ethereum today upon reaching the entry point near $4326 with a target of falling to $4230. Around $4230, I will exit short positions and buy immediately on the rebound. Before selling on a breakout, make sure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.
Scenario 2: Ethereum can be sold from the upper boundary at $4383 in the absence of a market reaction to its breakout, in anticipation of a move down toward $4326 and $4230.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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